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					Underwriting jobs involve deciding if applications for insurance cover
should be accepted and if so, what the terms of that acceptance are.
Underwriters assess a risk according to the likelihood of a claim being
made, by weighing up a number of factors and asking for detailed
information from policyholders. The aim is to minimise losses for the
company and help to make a profit.Typical Work Activities:•
      Studying insurance proposals
•      Gathering and assessing background information
•      Calculating possible risk and determining the premium
•      Visiting brokers or potential customers and preparing quotes
•      Liaising with specialists, such as surveyors or doctors, for
risk assessment
•      Gathering information and various types of reports (e.g.
medical records) from specialists
•      Negotiating terms with policyholders or their brokers and
drawing up contracts
•      Writing policiesInsurance underwriting jobs are found in two
main sectors:•    general insurance - which covers personal,
commercial, and re-insurance
•      life insurance - properly known as 'assurance', which offers
cover for illness, injury and deathMost jobs specialise in one type of
insurance. Underwriting jobs can also be found in specialist sectors
including marine, aviation and contingency.Skills and InterestsCritical
factors leading to success include:•      Ability to absorb technical
information
•      Analytical mind
•      Ability to make decisions
•      Numeracy
•      Sound judgement
•      Ability to work to tight deadlines
•      Willingness to work using your own initiative
•      Good interpersonal and communication skills to negotiate
terms with brokersEntryEntry may be through an insurance company's
graduate training scheme or, quite commonly, via promotion from an
administrative job within insurance. Some insurance companies recruit for
underwriting jobs internally and will consider applicants with general
insurance experience. Many graduates start their careers this way, moving
into underwriting jobs at the end of their training scheme.Underwriting
jobs are open to graduates all disciplines, however the subjects
accounting/finance; business/management; economics; financial services;
insurance; law; mathematics; statistics; offer a distinct advantage. A
foundation degree/HND in accounting/finance; business/management;
financial services; legal studies may also help. Entry without a degree
or HND is sometimes possible.Relevant work experience with an insurance
company may improve your chances. For some posts in life assurance,
biological or medical knowledge may be helpful.Typical Career
PathUnderwriting jobs can lead to opportunities to move into other core
areas of insurance - for example, risk management, claims or broking
which offer scope for general management roles.Alternatively, they can
lead to a move into re-insurance to deal with very complex cases and high
levels of risk, or progress into a specialist field, such as marine or
aviation insurance. Progression can be made into senior underwriting
jobs, specialising in a particular field, or to a team leader or
manager.Some holders of underwriting jobs move into the sales field,
developing their relationship-building skills to meet sales targets for
specific types of insurance.

				
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